Stock Market: The impact of TCS’s strong quarterly results Sensex crosses 49 thousand mark for the first time

TCS’s strong quarterly results in the market are record high. Today the Sensex opened beyond 49 thousand for the first time. The Sensex is currently trading up 400 points at 49,183.35. The index also touched 49,260 in early trade. IT shares are at the forefront of record boom. Infosys and HCL Tech have 3-3% lead in this.

The shares of 2,516 companies are traded on the BSE. Of this, 1,625 shares are trading with gains. Shares of 347 companies are trading at a one-year high in the business. In this, shares of 276 companies were involved in the upper circuit. Due to the all-round rise, the total market cap of the companies listed in the BSE has crossed Rs 196.88 lakh crore.

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Nifty also reached a record level

Similarly, the Nifty index is trading up 106 points at 14,454.05. IT sector shares are the top gainers. This includes shares of Infosys, HCL Tech, and Wipro. The Nifty IT index is also trading up 2%. On the other hand, Tata Steel shares have fallen by more than 2% due to the rise in metal stocks.

TCS strong quarterly results

TCS produced impressive results in the December quarter due to the festive season. Consolidated revenue of the company increased 4.7% over the September quarter. This is the fastest growth in nine years. Earlier, in October-December 2011, 13.5% growth was recorded. Annual growth was 5.4% in revenue and 7.2% in profit. The company reported a business of Rs 42,015 crore in the quarter. It has a profit of Rs 8,701 crore. It had a profit of Rs 8,118 crore in the December 2019 quarter.

Heavy foreign investment

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So far in January, foreign investors have made a net investment of Rs 4,819 crore. However, it is Rs 9,264 crore in provisional figures. On Friday alone, had invested more than 6 thousand crores. A total investment of 62 thousand crore was made in December last year. Of this, Rs 41,898 crore was invested between December 1 and 15, and Rs 20,118 crore was invested between December 16 and 31. FII’s total investment in equity in 2020 has been Rs 1.60 lakh crore.

The boom in global markets

The stock market worldwide had gained momentum on Friday after the news of the announcement of a new relief package in the US. South Korea’s Copsy closed up 3.97%. Hong Kong’s Hang Seng closed up 1.20% and Japan’s Nikkei index up 2.36%. On the other hand, China’s Shanghai Composite was down. At the same time, the US markets Nasdaq index closed up 1.03% and the S&P 500 index was up 0.55%. Apart from this, there was also an increase in the stock markets of Europe.

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The market closed at a record high on Friday.

The Nifty closed at 14,347.25 at 48,782.51 on Friday in the previous week. On the Bombay Stock Exchange (BSE), an increase of 54% in total shares was recorded. Maruti and Tech Mahindra were at the forefront of the Sensex rally. Their shares had gained more than 5-5%. The total market cap of BSE has also increased by Rs 2.40 lakh crore to Rs 195.63 lakh crore due to an all-around rise.